Cold water on EU recovery gambit. CNY angst.

Today's slide deck: https://bit.ly/3cgZdUJ Today Saxo CIO Steen Jakobsen pours cold water on the positive reaction to the EU's purported big moment and recovery package plans, we take a look at interesting US equity market divergences, discuss our angst on US-China tensions and the USDCNY exchange rate even as the market is complacent, look at crude and gold and much more. Today also with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.